Jan. 3: Around the industry

Feit appointed CFO at Gabriella’s Kitchen

Calgary based Gabriella’s Kitchen Inc. said Thursday it has named Barb Feit as chief financial officer. Ms. Feit was formerly the CFO at Big Rock Brewery, the largest independent craft brewer in Canada. The company said her appointment was “consistent with the company’s aggressive growth trajectory and capital markets engagement strategy.” In her previous role at Black Rock, Ms. Feit was also responsible for information technology, human resources and government relations.

The company, which trades on the CSE, also announced that Maureen Putman has been appointed interim president, and that current president and CFO Vince Micallef will remain as a consultant to the company until Jan. 31, to assist with the transition. The company said it has hired an executive recruiter to help its search for a new president and chief operating officer.

Gabriella’s Kitchen is a U.S.-focused cannabis wellness company holding a manufacturing license and will hold a distribution license issued by the California Bureau of Cannabis Control upon closing of the recent acquisition of Sonoma Pacific Distribution. The company expects to service mainstream California grocery stores with CBD-infused products, as well as licensed cannabis retailers with CBD and THC-infused edible and wellness products.

Westleaf to go public on TSX Venture next week

Calgary-based Westleaf Inc. will make its initial public offering on the TSX Venture Exchange on Tuesday, after raising $20-million in financing and completing its reverse takeover of IGC Resources Inc., the company’s chief executive said.

The company, which is on track to be vertically integrated but has not yet received federal production or provincial retail licences, has raised more than $50-million in equity over the last year and has access to up to $30-million in non-dilutive capital, said Scott Hurd, president and CEO of Westleaf.

Its trading symbol with be WL.

In December, Westleaf agreed to buy a 21.4-per-cent interest in cannabis retail company Canndara Canada Inc., which has store locations at various stages of development and 17 development permits, through a $7.5-million purchase in shares. Canndara will build out Westleaf’s Prairie Records retail concept and Westleaf has the option to buy Canndara’s remaining shares at $48.4-million, the company said.

Westleaf is constructing an 85,000 square foot cannabis production facility in Battleford, Sask., and has applied to Health Canada for a production licence. The company owns a 60,000 square foot building in Calgary that will be used for research and development, extraction, and to manufacture related products starting in the second quarter of 2019, Mr. Hurd said.

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